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Kinstellar Advises BIG Mega Renewable Energy on Wind Farm Financing from EBRD and OTP Bank

Kinstellar Advises BIG Mega Renewable Energy on Wind Farm Financing from EBRD and OTP Bank

Romania
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Kinstellar has advised BIG Mega Renewable Energy on a EUR 92 million financing agreement with the European Bank for Reconstruction and Development and OTP Bank to build and operate the 102-megawatt Urleasca wind farm in Braila county, Romania. Clifford Chance reportedly advised the banks.

BIG Mega Renewable Energy is an Israeli renewable sources energy company.

According to Kinstellar, "the milestone project marks BIG Mega Renewable Energy’s first renewable investment in Romania, with the signing of the financing agreement highlighted as a crucial milestone for the company’s expansion strategy in Romania and the Balkans. The Urleasca wind farm is expected to make a significant contribution to Romania’s renewable energy goals, with a generation capacity of 292 gigawatt-hours per year."

The Kinstellar team included Partner Iustinian Captariu, Special Counsel Magdalena Raducanu, Counsels Catalin Graure and Catalin Dinu, Managing Associates Razvan Constantinescu and Madalina Perte, Senior Associates Ioana Criste, Diana Istov, and Corina Stanciu, Associates Dana Sarbu and Ioana Popescu, and Junior Associate Horatiu Cretu.

Editor's Note: After this article was published, Clifford Chance announced that it advised the EBRD and OTP Bank on the financing. The firm's team included Bucharest Managing Partner Daniel Badea, Partner Jared Grubb, Counsels Andreea Sisman and Cosmin Anghel, Senior Associate Gabriel Toma, and Lawyer Martha Busuiocescu. According to Clifford Chance, "Urleasca Wind Farm SRL, the project company, is ultimately equally co-owned by BIG Shopping Centers ltd and MEGA OR ltd, two Israeli companies that own and develop shopping malls and are listed on the Tel Aviv stock exchange."

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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